Economic news

U.S. factory orders grow for the second month in a row

Fresh orders for U.S.-made products rose for the second month in a row in January, suggesting the manufacturing industry recovery was achieving momentum as increasing prices for primary products boost market pull for machinery.

Manufactured goods orders inched up 1.2 percent, the Commerce Department said on Monday after an uncorrected 1.3 percent surge in December.

Industrial production, which equal to 12 percent of the U.S. economy, is recovering its moving after being pressed by falling oil prices and a strong dollar.

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